Financial Depth in the WAEMU

Ahokpossi, Calixte; Ismail, Kareem; Karmakar, Sudipto; Koulet-Vickot, Mesmin

doi:10.5089/9781484309391.001

Cited by 7 publications

(8 citation statements)

References 14 publications

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“…Looking beyond macroeconomics and variables such as inflation and income, and turning to the impact of institutional variables, we find a significant relationship between financial gap and rule of law for all SSA countries. This result is in line with Ahokpossi, et al (2013) who show that the difference in rule of law explains the performance lag of financial sectors in the WAEMU compared to a benchmark group In addition, when looking more specifically at the CFA franc zone, we find that CFA franc zone countries with better government effectiveness and property rights appear to have a more developed financial system. Table 3 introduces several interaction variables with the CFA franc zone countries.…”

Section: Institutional Variablessupporting

confidence: 90%

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Financial Inclusion and Development in the CEMAC

Alter¹,

Yontcheva²

2015

IMF Working Papers

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This paper examines financial inclusion and development in the CEMAC. We explore the level of financial inclusion in the CEMAC through a benchmarking exercise.We construct a measure of financial development gap and analyze its determinants. Using panel data regressions, we find that inflation, income, and natural resources explain most of the financial development level but that better financial sector governance and stronger economic governance are positively associated with financial sector development. Richer and poorer countries can be equally far from their expected financial development levels. Finally, we use a benchmarking exercise to identify countries that have successfully reduced the financial development gap and propose policy measures that CEMAC countries could use to boost financial inclusion.

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Section: Institutional Variablessupporting

confidence: 90%

“…This proxy has been used extensively in the related literature (seeAhokpossi, et al (2013),David, et al (2014), Singh, et al (2009). Our results are very similar when using "deposits to GDP" ratio as a proxy for financial development.©International Monetary Fund.…”

mentioning

confidence: 99%

Financial Inclusion and Development in the CEMAC

Alter¹,

Yontcheva²

2015

IMF Working Papers

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“…It further gives credence to our hypothesis that depositors have confidence in entrusting their savings to financial institutions when contracts between creditors and debtors are honoured. This finding is consistent with Ahokpossi et al (2013).…”

Section: Empirical Findings and Discussionsupporting

confidence: 90%

“…For the case of Sub-Sahara Africa, Alter and Yontcheva (2015) document a positive and significant relationship between the rule of law and financial development gap for all SSA while government effectiveness and property rights applies to franc zone countries. Along the same vein, Ahokpossi et al (2013) shows that the poor development of the West African Economic and Monetary Union financial sectors is attributed to the variations in the rule of law. Based on cross-country studies, Acemouglu and Johnson (2005) conclude that secure property rights and contract enforcement prevents government expropriation thus facilitating a robust financial market.…”

Section: Related Literaturementioning

confidence: 97%

Does the Quality of Institutions Matter for Financial Inclusion? Cross Country Evidence

Muriu¹

2021

IJEF

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Despite evidence on the importance of financial inclusion, little is known about the role of institutions in fostering inclusion partly because of data availability. Using annual data corresponding to 120 countries for the period 2004-2019, this study investigates country institutional characteristics associated with the ownership of deposit accounts. A standard regression model is estimated using fixed effects panel data techniques along with financial inclusion proxy and three measures of institutional quality. This paper provides the first empirical justification that financial inclusion is non-negligibly driven by the institutional context. Specifically, rule of law and quality of regulations are crucial in enhancing financial inclusiveness, more so in Africa where they have a stronger effect relative to other regions. Banks and depositors in Africa may be operating in an environment characterized by weak legal systems and excessive or challenging regulations. The evidence presented in this paper may therefore help with the sequencing of institutional reforms that could promote financial inclusion.

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“…Countries with more extensive and higher population densities may have higher levels of financial inclusion -deeper financial penetration and lower costs of financial intermediation (e.g., Shapoval et al [34]). The structure of the population by age and employment (for example, the share of the unemployed young and old population) affects the amount of savings and credit schemes [35].…”

Section: Determinants Of Financial Depthmentioning

confidence: 99%

Financial depth-economic growth nexus in Ukraine

Shapoval

Kerimov

Shpanel-Yukhta

et al. 2022

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This book is dedicated to the ongoing debate on the nature of the relationship between financial depth and economic growth. It addresses the theoretical underpinnings of financial depth and reflects the changes in the nature of financial depth-economic growth nexus before and after the GFC. The distinctions between the financial depth-economic growth nexus in Ukraine and other countries, based on their income level, are identified. The dynamics and structure of Ukraine's state lending and debt are examined in order to show mutual connections between financial depth, economic growth and debt burden. The empirical study of the financial depth-economic growth nexus has allowed revealing that "too much finance" hypothesis does not hold for Ukraine, meanwhile, confirming the existence of the relationship between financial openness and financial deepening. The study is concluded with the analysis of the impact of war on the financial depth-economic growth nexus in Ukraine. This book will be a valuable resource for graduate students and academic researchers whose focus is on the financial and economic development.

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Financial Depth in the WAEMU

Cited by 7 publications

References 14 publications

Financial Inclusion and Development in the CEMAC

Financial Inclusion and Development in the CEMAC

Does the Quality of Institutions Matter for Financial Inclusion? Cross Country Evidence

Financial depth-economic growth nexus in Ukraine

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